The ruble on Tuesday, February 22, continues to win back its positions against the dollar and the euro. This is evidenced by the data of the Moscow Exchange on the evening of Tuesday, February 22.
According to trading data at 21:42 Moscow time, the settlement rate of the dollar fell by 27 kopecks, to 79.51 rubles, the euro rate – by 7 kopecks, to 90.08 rubles.
According to analyst Denis Buivolov from BCS Mir Investments, the strengthening of the Russian currency was partly facilitated by the growing cost of oil.
“The entry of Russian troops into the territory of the republics (DPR and LPR. – Ed.) Did not follow, and the sanctions response from the EU and the UK in response to the Kremlin’s decision turned out to be relatively mild, which allowed the Russian currency to show firmness,” Buivolov was quoted as saying by RIA News”.
The specialist also recalled the peak of the tax period, the factor of high rates, as well as the ongoing pause in the purchases of foreign currency by the Central Bank under the budget rule.
According to him, in the short term, the ruble will focus mainly on geopolitics, oil prices and general market appetite for risk.
According to Buivolov’s forecasts, the ruble exchange rate against the dollar by the end of this week will be 77.5-80.5 rubles.
“As long as the restrictions are targeted, the Russian market and the ruble have good chances for the development of corrective growth, after which everything will depend on the development of the situation on the Ukrainian border,” believes Elena Kozhukhova from Veles Capital.
At the opening of trading on Tuesday, the euro jumped above 91 rubles for the first time since April 2021, the dollar exceeded 80 rubles.
Anna Bodrova, senior analyst at the Alpari information and analytical center, in an interview with Izvestia, admitted that the ruble exchange rate is allowed to fall so that later the industrial sector, with the introduction of anti-Russian sanctions, “gets on its feet faster.” According to her, in the near future the tension in the foreign exchange sector will remain high. It seems that this is the prospect of the next few days for sure, she stressed.
Eduard Bugrov, financial analyst, managing partner of the GLS INVEST investment holding, speaking with Izvestia about the fate of the Russian ruble, noted that it all depends on what kind of package of sanctions against Russia the Western countries will prepare.
Earlier in the day, the Central Bank announced new measures to support the financial sector. According to them, until October 1, banks were allowed to use the exchange rate as of February 18, 2022 when calculating mandatory ratios. In order for the sector to adapt to increased volatility, credit institutions were allowed to report shares and bonds at market value as of February 18 before the same deadline.
The Central Bank noted that they keep the development of the situation in the financial market under control and are ready to take all necessary measures.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
